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Business in New Zealand
Business opportunities in New Zealand are galore for both new and established Indian companies desirous of initiating exports or forging strategic alliances with local businesses.
The World Bank considers New Zealand to be the best country in terms of an enabling environment for business and investment.
New Zealand Business Opportunities India
In its publication Doing Business in 2005: Removing Obstacles to Growth, the World Bank presents the findings of research that systematically ranks 145 countries across a range of key indicators of the business environment / investment climate. New Zealand heads a top ten list that includes (in order) the United States, Singapore, Hong Kong, Australia, Norway, United Kingdom, Canada, Sweden and Japan.
And yet it is largely an unexplored market for Indian businesses. In the recent past though there is a perceptible increase of trade and commerce between India and New Zealand. To those Indian businesses that move in quickly, they can have the ‘first mover’ advantage and establish firmly in a country that has a very small manufacturing base and imports most of the goods required locally. The New Zealand government encourages bilateral trade and commerce with Asian countries. It is supportive of business and systems have been designed to cut red tape and bureaucracy. Owing to such measures it has been voted as the least corrupt country in the world. With a population of just over 4 million, it is normally perceived to be a very small market. However this can be turned into an advantage to Indian businesses desirous of expanding into the global market. To them New Zealand can be a good starting point as it offers an easily coverable market, economies of scale owing to the exchange rate as compared to other countries and a very technology savvy environment. New Zealand has an internet penetration of almost 90% which rides on a fantastic telecommunications infrastructure. Other infrastructure like roads, power and port facilities are also world class and rival any other OECD nation. It also boasts of world-class IT and biotechnology companies who are actively seeking to initiate strategic alliances in various markets including India.
Make money in New Zealand or India through our business networkSuccessfully established business owners can also take advantage of the immigration policy of the country and seek permanent residency after a period of time. We are well networked into the business community of Wellington, the country’s capital and can provide you with a sound business entry strategy and handhold the subsequent process to ensure your company’s success in New Zealand. Contact us to for a no-obligation meeting to find out why New Zealand could be ‘The Right Choice’ to do business.
Business visa category
New Zealand’s business migration categories are designed to enable experienced business people to buy or establish businesses in New Zealand and contribute to economic growth.
There are five sub-categories under this category to gain business residence visa. Two relating to the self employed, two relating to Investors and one relating to employees of a relocating business.
Investor catergory is for people wishing to invest funds in a business and live in New Zealand can apply for residence under Investor/Investor Plus categories. This involves huge sums of money that needs to be invested and therefore opted by few people across the world.
1.1 Investor Plus (Investor 1)
This is the best option if you can invest at least NZ$10 million in New Zealand and can directly apply for New Zealand residence under the Investor Plus category. Everyone included in your residence application (family members) will be able to secure residence provided they meet the health and character requirements.
1.2 Investor (Investor 2)
For a lower investment of at least NZ$1.5 million in New Zealand you would apply for New Zealand residence under the Investor Category.
The Government has set an annual quota of 300 applications under the Investor Category. The first step is to submit an Expression of Interest (EOI) form, showing your eligibility for points under the various criteria for this category. If invited to apply for residence, you will then need to provide evidence that you meet the Investor criteria, as per the claims made in the EOI. Everyone included in your residence application will have to meet our health, character, and English language requirements.
- The principal applicant must be aged 65 or younger
- Have at least three years of business experience
- The investment funds and/or assets you nominate must be equivalent to at least NZ$1.5 million
- In addition, you need to own settlement funds and/or assets of at least NZ$1 million.
- Need to provide evidence showing that your investment and settlement funds and/or assets are owned by you or jointly by you and your partner and/or dependent children.
- Evidence showing that your intended investment funds are unencumbered, have been earned or acquired legally and are transferable through the banking system, or a foreign exchange company that uses the banking system.
After getting the approval in principle, you will need to provide verifiable documents to show that the funds you transfer to New Zealand came from the funds and/or assets that you nominate. You will need to place your investment funds in an acceptable investment(s) in New Zealand.
After residence application is approved in principle, you will have 12 months to transfer your nominated investment funds and invest them in an acceptable investment in New Zealand. You will need to retain your investment funds in an acceptable investment(s) for four years, and spend at least 146 days each year in New Zealand in years two, three and four of your four-year investment period.
Experienced business people wishing to purchase or establish a business in New Zealand can apply for a work visa under our Long Term Business Visa Category and then apply for residence under the Entrepreneur or Entrepreneur Plus categories. So first lets to try to under the Long Term Business Visa (LTBV). This is the low cost business visa option which is opted by many people and also affordable.
Long Term Business Visa Category
This is an option if you are an experienced business person interested in being self-employed in your own business in New Zealand. LTBV will enable you to move to New Zealand and buy or establish your own business. It could be the first step on your pathway to applying for residence in New Zealand under Entrepreneur or Entrepreneur Plus categories. Once your LTBV is approved, you will initially be given a nine-month work visa, enabling you to buy or establish your business in New Zealand. Within that nine months, or as soon as you have taken steps to establish your business, you can apply for a further work visa for the balance of three years.
The requirements are as follows:
- You have business experience relevant to the business you wish to buy or establish
- Everyone included in your application will have to meet health, character, and English language requirements
- Submit a sound business plan, and show relevant knowledge about the New Zealand business environment, and how your intended business venture will benefit New Zealand
You will also need to have enough funds (apart from the funds you plan to invest in your business) to support yourself and (if applicable) your partner and children for the duration of your long term business visa
In the first instance immigration will grant you a work visa that expires after nine months. This allows you the time to take steps to establish your business. Before the nine months have expired you will need to provide evidence to show you are making reasonable progress in setting up your business. If approved, you will be granted a further work visa to take your stay up to a total of three years.
Many people ask how much money needs to be invested. The answer will be provided by the business plan and how many people will be living with you in New Zealand.
If you have successfully established a business in New Zealand, and you have been 'self-employed' in that business for at least two years, and your business has benefitted New Zealand, you may be eligible for residence in New Zealand.
Pathway to residence for entrepreneurs through LTBV
Pathways to residence through LTBV after you can demonstrate contribution to New Zealand’s economic development. The two categories under this are as follows.
1. Entrepreneur Category
2. Entrepreneur Plus Category
2.1 Entrepreneur Category
If you have successfully established a business in New Zealand, and you have been 'self-employed' in that business for at least two years, and your business has benefited New Zealand, you may be eligible for residence in New Zealand under the Entrepreneur Category. The main part is to wait for two years after establishing the business. Entrepreneur Category is the pathway that provides residence with quite low investment. It all depends upon the strength of the business plan. You don’t need to create three full time jobs in business to secure residence as in the Entrepreneur Plus Category.
2.2 Entrepreneur Plus Category
Under this category there is no minimum time requirement for which you must have operated your business, and it provides a faster track to residence if you:
- hold a long-term business visa have successfully established a business in New Zealand
- have been 'self-employed' in that business
- have invested at least NZ$0.5 million in the business, and
- have created a minimum of three new full-time jobs for New Zealand citizens or residents.
3. Employees of a relocating business
This category facilitates the granting of residence to employees of businesses relocating to New Zealand, who do not qualify for residence under any existing categories. This would involve in first moving the business and establishing it in New Zealand. If you are still deciding whether New Zealand is the place for you and your business, take a look at the following weblink set up New Zealand government. http://www.investmentnow.govt.nz/